Mon. Feb 24th, 2020

Industrial production falls 2.1% in the eurozone and 2% in the EU in December



Industrial production decreased 2.1% in the eurozone and 2% in the whole of the European Union (EU) last December compared to the month of November 2019, as reported on Wednesday by the community statistics office, Eurostat.

In November, industrial production had remained stable both in the nineteen countries that share the single currency and throughout the EU.

If the interannual comparison is made, production in the industrial sector decreased 4.1% in the euro countries during December compared to the same month of 2018, and 3.9% in the set of countries that make up the community club.

The monthly decrease of 2.1% in the euro area was due to the 1.1% drop in the production of consumer durables, 4% in capital goods, 1.7% in intermediate goods, 1.3 in non-durable consumer goods and 0.5% in energy.

In the whole of the Twenty-seven, the fall of 2% responded to a decrease of 3.5% in the production of capital goods, of 1.6% in intermediate goods, of 1.4% in consumer goods durable, 1.2% in non-durable consumer goods and 0.7% in energy.

Among the Member States for which Eurostat has data available, the largest decreases in the industrial production rate were in Ireland (6.2%), Poland (3%) and France (2.9), while the largest increases pronounced took place in Denmark (7.2%), Portugal (2.9%) and Greece (2.5%).

In Spain, industrial production fell 1.5% in December, following a 0.9% increase in November.

In year-on-year terms, the 4.1% drop in the eurozone compared to November 2019 was explained by a 5.5% decrease in intermediate goods production, from 6.7% in capital goods, from 1.4 % in durable consumer goods and 2.3% in energy, while the production of non-durable consumer goods increased 1.3%.

In the Twenty-Eight, the 3.9% decrease was due to the 6% drop in the production of capital goods, 3% in energy, 4.9% of intermediate goods and 0.9% in durable consumer goods, while the production of non-durable consumer goods grew by 0.9%.

The largest interannual declines in the industrial production rate were in Estonia (9.9%), Romania (8.9%) and Germany (7.2% in both countries), while the most pronounced increases took place in Malta (7.6%) and Portugal (3.9%).

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